Chinese tech firm Baidu has implemented updated anti-crypto measures that fall in line with Beijing’s more rigid position towards cryptocurrencies.
This is according to a report seen on the South China Morning Post (SCMP).
Baidu, which is considered to be the Asian giant’s version of Google, has shut down at least two popular crypto-related chat forums, with a notice informing users that the move comes “in accordance with relevant laws, regulations and policies.”
Meanwhile, Tencent — the operator of the 1-billion-user social media platform WeChat, has also issued a statement pronouncing its own ban on crypto trading. The platform said it would keep an eye on daily transactions in real time and block any skeptical transactions.
Chinese e-commerce giant Alibaba — whose subsidiary Ant Financial operates the popular internet payment app Alipay — has said it would limit or altogether prohibit any accounts it finds engaging in crypto trading.
All three announcements come on the heels of last week’s bevy of toughened anti-crypto measures in China. These included a prohibition on all commercial venues from hosting any crypto-related functions in Beijing’s Chaoyang district, alongside measures focusing on communication channels or “loopholes” through which Chinese investors might be exposed to Initial Coin Offerings (ICO) and crypto trading.
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